Cassava Technologies announced that it has secured a $50-million investment from C5 Capital (C5), a specialist venture capital firm that invests in cyber security, space, and energy security. The investment is part of a broader funding round to accelerate Cassava’s growth. The investment by C5 will contribute to the acceleration of the work that Cassava has undertaken to increase digital connectivity and inclusion on the continent. Cassava will be the go-to-market partner in Africa for C5’s innovative portfolio companies to deliver best-in-class cyber security, satellite and space technology and clean energy.
C5 and Cassava already announced a joint venture through which Haven Cyber, a C5 portfolio company and Cassava will scale Microsoft’s suite of cybersecurity products across Africa to help combat the threat of cybercrime. Cassava Technologies has operations in more than 20 African countries and has been at the forefront of bringing innovative technology solutions to local businesses and individuals. The company provides digital solutions (in fibre networks, renewable energy, cloud, cyber-security, fintech and digital platforms) to over 1 million enterprises and access to the internet for over 500 million people in Africa.